ADVISORS SERIES TRUST
NSAR-B, 1998-04-29
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<PAGE>      PAGE  1
000 B000000 02/28/98
000 C000000 0001027596
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 ADVISOR SERIES TRUST
001 B000000 811-07959
001 C000000 6029521100
002 A000000 4455 E. CAMELBACK RD., SUITE 261-E
002 B000000 PHOENIX
002 C000000 AZ
002 D010000 85018
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 12
007 C010100  1
007 C020100 AMERICAN TRUST ALLEGIANCE FUND
007 C030100 N
007 C010200  2
007 C020200 INFORMATIONTECH 100 FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 INVESTMENT COMPANY ADMINISTRATION CORPORATION
010 C01AA01 PHOENIX
010 C02AA01 AZ
010 C03AA01 85018
011 A00AA01 FIRST FUND DISTRIBUTORS, INC.
011 B00AA01 8-42809
011 C01AA01 PHOENIX
011 C02AA01 AZ
011 C03AA01 85018
012 A00AA01 AMERICAN DATA SERVICES
012 B00AA01 84-1964
012 C01AA01 HAUPPAUGE
012 C02AA01 NY
012 C03AA01 11788
013 A00AA01 MCGLADREY & PULLEN, LLP
<PAGE>      PAGE  2
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
015 A00AA01 STAR BANK, N.A.
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
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020 A000003 SMITH BARNEY
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020 C000006      0
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020 C000008      0
020 C000009      0
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022 A000001 FEDERATED SECURITIES CORP(STAR TREASURY FUND)
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022 D000001      3544
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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070 F020100 N
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<PAGE>      PAGE  7
070 I010100 N
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<PAGE>      PAGE  8
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080 A000100 ICI MUTUAL INSURANCE COMPANY
080 C000100      400
081 A000100 Y
081 B000100  12
082 A000100 Y
082 B000100       25
008 A000201 BAY ISLE FINANCIAL CORPORATION
008 B000201 A
<PAGE>      PAGE  9
008 C000201 801-27563
008 D010201 SAN FRANCISCO
008 D020201 CA
008 D030201 94104
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<PAGE>      PAGE  10
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058 A000200 N
058 B000200 N
058 C000200 N
058 D000200 N
058 E000200 N
059  000200 Y
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060 B000200 Y
061  000200     2000
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 N
<PAGE>      PAGE  11
070 O020200 N
070 P010200 N
070 P020200 N
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070 Q020200 N
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<PAGE>      PAGE  12
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080 C000200      400
081 A000200 Y
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082 A000200 Y
082 B000200       25
SIGNATURE   THOMAS MARSCHEL                              
TITLE       ASSISTANT TREASURER 

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 1027596
<NAME> ADVISORS SERIES TRUST
<SERIES>
   <NUMBER> 1
   <NAME> AMERICAN TRUST ALLEGIANCE FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          FEB-28-1998
<PERIOD-START>                             MAR-11-1997
<PERIOD-END>                               FEB-28-1998
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                        5,219,904
<INVESTMENTS-AT-VALUE>                       6,339,043
<RECEIVABLES>                                    8,704
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<OTHER-ITEMS-ASSETS>                            17,957
<TOTAL-ASSETS>                               6,380,614
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                             20,492
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     5,175,128
<SHARES-COMMON-STOCK>                          471,975
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                     (15,458)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (81,313)
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<INTEREST-INCOME>                                8,849
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  53,529
<NET-INVESTMENT-INCOME>                       (15,458)
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<APPREC-INCREASE-CURRENT>                    1,119,139
<NET-CHANGE-FROM-OPS>                        1,184,994
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE>                                            6
<CIK>                         1027596
<NAME>                        ADVISORS SERIES TRUST
<SERIES>
   <NUMBER>                   2
   <NAME>                     INFORMATIONTECH 100 FUND
<MULTIPLIER>                                   1
<CURRENCY>                                     U.S. Dollars
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                              FEB-28-1998 
<PERIOD-START>                                 APR-08-1997 
<PERIOD-END>                                   FEB-28-1998 
<EXCHANGE-RATE>                                          1 
<INVESTMENTS-AT-COST>                            1,901,512 
<INVESTMENTS-AT-VALUE>                           2,326,084 
<RECEIVABLES>                                      330,594 
<ASSETS-OTHER>                                      15,194 
<OTHER-ITEMS-ASSETS>                                18,464 
<TOTAL-ASSETS>                                   2,690,336 
<PAYABLE-FOR-SECURITIES>                                 0 
<SENIOR-LONG-TERM-DEBT>                                  0 
<OTHER-ITEMS-LIABILITIES>                           16,593 
<TOTAL-LIABILITIES>                                 16,593 
<SENIOR-EQUITY>                                          0 
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<SHARES-COMMON-STOCK>                               88,685 
<SHARES-COMMON-PRIOR>                                    0 
<ACCUMULATED-NII-CURRENT>                           (8,898)
<OVERDISTRIBUTION-NII>                                   0 
<ACCUMULATED-NET-GAINS>                            (23,156)
<OVERDISTRIBUTION-GAINS>                                 0 
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<NET-INVESTMENT-INCOME>                             (8,898)
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<NET-CHANGE-FROM-OPS>                              392,518 
<EQUALIZATION>                                           0 
<DISTRIBUTIONS-OF-INCOME>                                0 
<DISTRIBUTIONS-OF-GAINS>                                 0 
<DISTRIBUTIONS-OTHER>                                    0 
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<NUMBER-OF-SHARES-REDEEMED>                              0 
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<GROSS-ADVISORY-FEES>                                8,353 
<INTEREST-EXPENSE>                                       0 
<GROSS-EXPENSE>                                    107,678 
<AVERAGE-NET-ASSETS>                               985,052 
<PER-SHARE-NAV-BEGIN>                                20.00 
<PER-SHARE-NII>                                       (.10)
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<EXPENSE-RATIO>                                       .015 
<AVG-DEBT-OUTSTANDING>                                   0 
<AVG-DEBT-PER-SHARE>                                     0 
                                               

</TABLE>


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